MetroPCS publicly offered Leap shareholders in September 2.75 shares of MetroPCS for every share of Leap they own.

In withdrawing the offer, MetroPCS said it “has not been able to engage Leap in meaningful negotiations” about a deal.

Leap Wireless rejected the unsolicited proposal in September, saying it was inadequate in several ways, including its lack of accounting for Leap’s growth possibilities and its investment in a new broadband product.

When MetroPCS launched the bid, analysts said they expected the company to raise it. It represented a premium of just 3 percent over Leap’s stock price.

Leap President S. Douglas Hutcheson called the offer “financially inadequate.”

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